Note: I'm reporting this out of a sense of duty, but due to another bug, I don't want to see this one fixed soon, because I'm relying on it for a workaround!
Note: This assumes you've done a bunch of tagging in your library already.
Open Library, be sure you're viewing it in Grid View and Browse not Prioritize panel on the right
View My Tags column and click on it to sort and group by tags
Expand one of the collapsed tags and select one or several or all of the titles in that section
Click "Clear tags" button on the right panel
The items you have selected remain selected, and they remain grouped under a section with the old tag they had (which has now been removed). Same thing happens if you've sorted by rating and change the ratings on a title or a bunch of titles.
Expect: if you change tags or ratings when the library is sorted by those fields, the library should refresh.
However...please don't fix this until you've fixed the problem described in this thread: http://community.logos.com/forums/t/13775.aspx. Relying on this present bug is the only way I can work around that other problem to easily rename the tags on a bunch of titles together. What I do is go in and sort by tag, clear all the tags and then put in a new tag with the correct spelling for all of them. If you fix this bug, then all the titles I want to apply the new tag to would disappear from the view before I had a chance to retag them. See also Dave Hooton's post in that other thread: http://community.logos.com/forums/p/13775/107167.aspx#107167